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Prepared by: Worley Parsons
This report was prepared by WorleyParsons (WP) and FloSolutions for Minera Salar Blanco S.A. (“Minera Salar Blanco or MSB”) to provide a National Instrument 43-101 (“NI 43-101”) compliant Definitive Feasibility Study (“DFS”) of its Blanco Project located in Salar de Maricunga in the Atacama Region of northern Chile. This report provides an independent updated Mineral Resource estimate, a Mineral Reserve Estimate and an technical appraisal of the economic viability of the production of 20,000 TPY of lithium carbonate from the lithium contained on the property, under the guidelines of NI 43-101 and in conformity with its standards. The Report includes technical judgment of appropriate additional technical parameters to accommodate certain specific characteristics of minerals hosted in liquid brine as outlined in CIM Best Practice Guidelines for Resource and Reserve Estimation for Lithium Brines and as discussed by Houston (Houston et al, 2011).